Scottsdale-based
Greenlight Communities has broken ground on an
89-unit community, Cabana on Hayden, which will offer Scottsdale
residents brand new, affordable and centrally located rental homes. Cabana on
Hayden is located at Hayden Road and Oak Street, with construction scheduled to
start on June 1st.

Greenlight
Communities
has remained steadfast in their pursuit to build $325 million worth of
development and construction projects in the Phoenix metro area.

Nationally,
the Phoenix metro area experienced the largest increase in rental prices in
2019 and apartment rents have risen 40 percent across the region since 2014. The
need for newly-built housing alternatives in the Valley is undeniable, as the
vast majority of new rentals are luxury and come with a hefty price tag, making
them unattainable to the majority of middle-income renters.

Scottsdale-based Greenlight
Communities identified this need years ago and set out to be part of the
solution, offering an innovative private sector option to the Valley’s housing
and economic challenges. Greenlight is building brand-new, contemporary
apartment communities with rents that are far more manageable for middle-income
renters.

Cabana
Hayden, located at 2240
N Hayden Rd, Scottsdale AZ 85257,will offer 36 studio, 31 one-bedroom and 22 two-bedroom
apartment homes. The $17 million Scottsdale
development brings a brand new, attainable housing option to a currently vacant
lot. Greenlight Communities acquired the property for $2.4 million in December
of 2018. The community is set to open in January 2021.

Cabana
on Hayden
residents will enjoy the centrally located community, just streets over from
Old Town Scottsdale, near the ASU SkySong technology campus as well as employment centers and
recreation amenities in Scottsdale and neighboring Tempe.

The Hayden Road development was thoughtfully designed with 89 units ,
creating a footprint that respectful of nearby existing neighborhoods. Additionally,
the property will include increased landscaping and a parking buffer to connect
the Cabana community to Hayden Road while meshing with the neighborhood.

Greenlight
Communities
is developing new Cabana apartments across the Valley using their innovative
construction, design and operational business model that allows it to offer new
apartments with rents that are significantly less expensive than other new
projects.

“Nurses,
first responders and teachers are the backbone of our community. We have set
out to build rental housing that allows these Scottsdale workers to be able to
also live in Scottsdale, in housing they can comfortably afford and feel proud
of. We are thrilled to offer a new and affordable housing option in a prime
Scottsdale location,” said Dan Richards, a Principal and Co-founder of
Greenlight Communities.

“At Greenlight Communities,
we have been able to eliminate many of the cost and time constraints other
building projects and apartment communities around the country inevitably
experience. We do this effectively by removing the middleman and streamlining
our design and building process. For each new community, we use our own
construction and administration staff, as well as the same Cabana design, with
exactly the same blueprint for every project. This has virtually removed the
long permit delays and higher construction costs that unfortunately get passed
down to renters. The best part is that this innovative design process takes
nothing away from what the renters get from our housing. We understand
the strain Valley residents are under and we are proud to be offering housing
that can ease some of that burden.We are a Scottsdale company and we are
excited to bring more affordable rents to our hometown,” said Patricia
Watts, Principal and Co-founder of Greenlight Communities.

Cabana Hayden is offering a significant number of studio
apartments. Historically, the Valley has experienced a lack of studio
rental options. Greenlight, however, recognizes that there is a demand for
studio units, and that demand is only growing. Studios offer an affordable
option for residents who want to live alone, reduce utility costs, have less
space to clean and furnish and for those who prioritize time outdoors. “We are developing more studio units so Cabana
renters can afford to live alone. We want Scottsdale residents to feel
self-sufficient and free from having to share a place with roommates. Hard-working renters deserve their own space
in a new community they can feel proud of,” said Rob Lyles, Principal and
Co-founder of Greenlight Communities.

Greenlight Communities first
two Cabana communities are currently leasing in Phoenix. Greenlight has additional projects under construction and in the development
pipeline in additional cities as well, including Glendale, Goodyear, Mesa, and Chandler.

Leasing is underway at both of Greenlight’s
Cabana on 12th and Cabana on Washington
communities in Phoenix. In response to the COVID-19 pandemic, residents can
take virtual tours and talk to leasing representatives online via the apartment
communities’ websites and virtual leasing portals. Residents are also welcomed
to visit the sites for in-person tours during business hours.

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